REHAU
German converter to sell Russian interests
 Rehau is now selling its Russia business (Photo: Rehau) |
After suspending business operations in Russia and Belarus in March (see Plasteurope.com of 24.03.2022), German plastics converter Rehau (Rehau; www.rehau.com) has decided to completely withdraw from the country.
The German company said it will sell its Russian operations to the local management; a corresponding preliminary agreement has been signed by both parties and the closing will be “as soon as possible”, subject to regulatory approvals, as a company spokesperson told Plasteurope.com. “We are selling the Window Solutions factory in Gzhel, Ramensky, as well as the sales organisation in Russia.”
The Rehau group has been active in Russia for 30 years and served the Russian market primarily with polymer-based solutions for the window, construction, and furniture sectors. It has almost 700 employees at 23 locations in the country, including a plant near Moscow – its second largest worldwide – that produces PVC window and door profiles.
Related: Rehau opens automotive plant in Hungary
The German company said it will sell its Russian operations to the local management; a corresponding preliminary agreement has been signed by both parties and the closing will be “as soon as possible”, subject to regulatory approvals, as a company spokesperson told Plasteurope.com. “We are selling the Window Solutions factory in Gzhel, Ramensky, as well as the sales organisation in Russia.”
The Rehau group has been active in Russia for 30 years and served the Russian market primarily with polymer-based solutions for the window, construction, and furniture sectors. It has almost 700 employees at 23 locations in the country, including a plant near Moscow – its second largest worldwide – that produces PVC window and door profiles.
Related: Rehau opens automotive plant in Hungary
24.05.2022 Plasteurope.com [250343-0]
Published on 24.05.2022